Demand of Molded Interconnect Device Market (MID) is huge and will be same in upcoming years according to following report added on ReportsnReports.com. The MID market is expected to reach USD 1,798.3 million by 2023 from USD 894.1 million in 2018, at a CAGR of 15.0% from 2018 to 2023.

Key factors driving the growth of the MID market include the increasing use of MID in medical devices, rising demand for miniaturization in the consumer electronics industry, and growing need to reduce e-waste. However, the technological monopoly of LDS equipment manufacturer is a major factor restraining the growth of the market.

MIDs are used in sensors for a variety of industrial and automotive applications. Industrial applications include temperature sensors, motion sensors, pressure sensors, and flow sensors, among others. In automotive, MID-based sensors are used in adaptive cruise control system, central locking, and climate control applications. MID miniaturizes devices, which helps reduce the weight of the overall sensor system and increases functionality, resulting in low-cost end-use devices. The use of MID will increase in sensors, which will further drive the MID market growth in the coming years.

Asia Pacific to account for largest size of MID market during forecast period

APAC is expected to offer lucrative opportunities for the MID market growth owing to the growing base for communication infrastructure, communication devices, and consumer electronics. APAC is one of the key regions for players dealing with smart phones and wearable devices. The trend of miniaturization of components in smart phones and wearable’s will drive the MID market in this region. This region is expected to witness mass commercialization of 5G by 2020.

This research report categorizes the MID market by process, product type, industry, and geography. By process, the market has been segmented into LDS, 2-shot molding, and film techniques. Byproduct type, the MID market has been classified into antennae & connectivity modules, connectors & switches, sensors, lighting, and others. By industry, the market has been segmented into telecommunications, consumer electronics, automotive, medical, and industrial. Moreover, the report covers the market in4major regions—North America, Europe, APAC, and RoW.

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